Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

SOCIAL NETWORK

The people, family and frinds that form a system that is interconnected where alliances will be formed, information swapped and strings pulled.

SOCIALIZATION

The process where people acquire knowledge, social skills, and language to be able to conform to the workings of a society.

SOFT SELLING

A philosophy used to sell goods and services by first finding the cistomers needs and wants. Differs from a hard sell using psychological pressure for a fast sale.

SOIL EROSION

The removal of the soil that is faster than the processes involved in creating soil can produce it. It results in land becoming infertile and open to attack by flooding.

SONIC BOOM

The shock waves heard and felt when an aircarft of any sort travels at the speed of sound.

SPECIAL ASSESSMENT

A tax that is levied on properties in an area to provide for infrastructure such as street lighting and footpaths.

SPECIAL PERSONAL PROPERTY FORM

A form that has been nearly replaced by Building and Personal Property Coverage Form and covers commercial risks for all perils.

RATE OF ECONOMIC GROWTH

The rate of economic growth is designed to determine the economic growth or decline over the course of the year.

RATIONAL APATHY

The indifference that a voter usually feels when they make the reasonable assumption that his or her vote will not have any real influence on the conclusion of an election.

REACTIVE

1. Personnel management: An action that is not internally motivated but may manifest in response to a situation. 2. Safety management: Volatile chemicals that react with its surroundings or certain other chemicals.

REAL ESTATE INVESTOR

Investor who assesses the real estate market and purchases property with the intention of earning money. Real estate investors can purchase residential or commercial property, depending on their specific goals.

REASONABLE DOUBT

This term refers to the lack of proof that prevents a judge or jury from convicting a defendant a crime. The prosecuting attorney must provide proof beyond a reasonable doubt to establish

RECENCY EFFECT

The idea that once a customer makes a purchase from a company, they are more likely to buy the same product or other products that are offered by the same company.

RECOGNITION OF EXPENSE

This term is in reference to the inclusion of revenue in an income account. According to the provisions of GAAP, expense is recognized when incurred, whether it is paid or not.

RECOURSE LOAN

Loan agreement that a borrower gives an undertaking to repay a debt even if the funded asset cannot be liquidated to cover the loan amount. In case of default, the lender can

RECYCLABILITY

This term refers to ability of waste materials to be captured and separated from the waste stream for conversion into a new item or reused in the same capacity.

REDUCED INSTRUCTION SET COMPUTING (RISC)

IBM’s central processing unit (CPU) chip design that utilizes a reasonably smaller number of machine language instructions to perform its jobs, thereby enhancing the computer’s speed of data processing.

REFERENCE DOCUMENT

A type of document that outlines procedures as they relate to a particular activity. A reference document outlines the procedures undertaken during an activity to avoid missing steps the next time that

REFLEX EFFECT

Propensity of free and open markets to routinely return to a balanced state through price mechanisms, following attempts to maintain an unnaturally high or low price.

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